ERM will acquire Point Advisory, an Australian climate change and sustainability advice firm, as the KKR-majority owned environmental consultancy expands to meet soaring demand driven by Australia’s rapid energy transition.Australian corporates are under mounting pressure to meet shareholder demands for higher ethical and sustainability standards, fuelling a sustained increase in consultancy fees.
“Our combined team will be one of the largest sustainability advisory practices in Australia,” Matthew Klein, managing partner at ERM, told“Demand for sustainability services is rising significantly. So, the skills are in urgent and strong demand, both locally and regionally.”Mr Klein declined to comment on the size of the deal, which is expected to close in the second quarter of 2022 – subject to regulatory approvals.
ERM’s expansion comes amid a reshaping of Australia’s economy away from its traditional fossil-fuel pillars.